BitPico to Begin Bitcoin Cash Stress Test

'Roger Ver will now cry' BitPico's Twitter account says
27 June 2018   1661

BitPico, which previously carried out a stress test of the Lightning Network, begins to 'attack' Bitcoin Cash (BCH). This is reported by Bitcoinist.

In a series of tweets, which began publication on June 22, the group announced that after testing the Lightning network through a coordinated attack, it intends to do the same for Bitcoin Cash, this time attempting to perform the attack 51%.

The [Bitcoin Cash] attack has been started; it will continue to run as we work to amplify it over the coming months. We expect to have 5000 Bcash attack nodes in roughly 6 weeks and then we will multi-fork the chain. [Roger Ver] will now cry.

BitPico Twitter

BitPico are known as a supporters of the Bitcoin Scaling Solution SegWit2x. After this initiative failed, the group went 'undergroup' and showed itself only in March, when it began to attack the Lightning network.

We are no longer retired from bitcoin; just needed a break. We are bullish and working on the LightningNetwork.

BitPico Twitter

BitPico, who previously won the praise of Andreas Antonopoulos for the free testing of bitcoin technology, intend to put an end to the discussion about the practical applicability of Bitcoin Cash.

We can just mine the transaction ourselves and drop the merchants zero-conf Tx from our stratum backed mempool. We don’t think the [BitcoinCash] people understand how easy it is to bring their network down.

BitPico Twitter

Previously, Bitcoin Cash supporters conducted their own stress test, which was criticized by BitPico for "centralized and controlled and will be faked," they suggested.

Despite the "threats of murder" and curses from Bitcoin Cash fans, BitPico is not going to abandon the attack on the network and plan to create own fork called bitPicoCash.

To organize the attack, a separate repository on GitHub was created, which BitPico promises to begin filling in the near future.

Coinbase to Appear in San Francisco District Court

Exchange representatives must appear in court due to issues related to BCH trading launch in 2017
07 August 2019   173

San Francisco District Court judge Vince Chhabria ruled that the latter showed negligence and “clear incompetence generated by haste” when it started trading in Bitcoin Cash (BCH) on Coinbase. Now Coinbase, apparently, will be forced to stand trial, Bloomberg reports.

So, at the end of 2017, the exchange opened BCH trading, but was forced to suspend operations after 2 minutes due to high volatility and suspicious price increases - the coin began to grow rapidly several hours before the announcement of Coinbase.

Then the company was accused of insider trading, later crypto enthusiasts even began to find confirmation of this.

According to the judge, the users who bought VSN at inflated prices were primarily affected. He noted that the suspension of trading was too hasty and disrupted the normal functioning of the market.

BCH buyers claim that Coinbase could have announced a bid in advance to prevent a price spike, but it did not. The judge agreed with this opinion and noted that shortly before the launch of BCH trading on Coinbase, the Chicago Mercantile Exchange opened trading in bitcoin futures, which could become a factor of too much market participants' recovery.

According to the publication, Coinbase has not yet commented on the court decision.

Recall that in March 2018, a class action lawsuit was filed against the company, in which Coinbase was accused of “artificially overpricing” Bitcoin Cash through trading based on insider data.